QYOU Media Q2 FY 2021 Revenue Grows 148% Over Q1 FY2021

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QYOU Media Inc.

Mar 01, 2021, 16:15 ET

TORONTO, LOS ANGELES, and MUMBAI, India, March 1, 2021 /CNW/ - QYOU Media Inc. (TSXV: QYOU) (OTCQB: QYOUF), a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has reported financial results for the second quarter of Q2 fiscal year 2021 ended December 31, 2020.

Impact of COVID-19:  As previously reported by the company on June 1, 2020 and on October 28, 2020, the business in both India and the United States experienced material negative impact due to the loss of contracts and revenue caused by the COVID-19 pandemic from early March thru to the end of September (Q1 FY 2021).  Results for Q2 FY 2021 continued to experience some negative impact from COVID-19.

For the three months ending December 31, 2020, revenue was $968,139 up 148% as compared to $390,950 in FY Q1 2021 and down 2% from $986,341 for the three months ended December 31, 2019.  Net loss was $518,578 for the 3 months ending December 31, 2020 representing a decrease of 55% as compared to a net loss of $1,149,333 in FY Q1 2021 and a decrease of 73% from $1,944,944 for the three months ended December 31, 2019. 

QYOU Media, via its Q India subsidiary has continued to experience rapid growth in 2021 in ratings, distribution and revenues. Highlights include:

In addition the company recently completed fully subscribed bought deal financing  for $11.5 million including the over allotment led by investment banks Clarus Securities, Canaccord Genuity and Gravitas Securities.  https://www.wildlaw.ca/transactions/2021/qyou-media-inc-completes-$11-million-bought-deal-financing/

Curt Marvis, Co-Founder and CEO of QYOU Media commented, "We are delighted with  our growth in 2021 across all key metrics. After three years of solid work and investment the  company is now positioned in India to grow revenue and brand recognition in a meaningful way. We continue to believe this is only the beginning of a much steeper growth trajectory for our business in the second half of the year."

The Q India is an advertiser and influencer marketing supported Hindi language content brand, channel and VOD provider delivering hit digital programming from social media stars and leading digital video creators targeting Young Indian audiences.  The channel has recently become one of India's fastest growing youth entertainment brands reaching 4.4 Gross Rating Points(GRP) on BARC (Broadcast Audience Research Council) in February 2021. With a growing library of over 850 programs, and beginning in April with the addition of DD Free Dish, the channel will reach an audience of 700 million via 88 million television homes with partners including TATA Sky, Airtel DTH, SitiNetworks and DD Free Dish; 380 million OTT users via platforms including ShemarooMe, MX Player, ZEE5, and Dish Watcho; and 232 million users on mobile and digital platforms including Snap, JioTV, Airtel Xstream, Amazon Fire TV and Chingari. 

The company also announced that on June 5, 2017, Curt Marvis, the Chief Executive Officer of the Company, issued a promissory note to and in favour of the Company, evidencing a loan by the Company to Mr. Marvis in the original principal amount of US$150,000. The Note bears interest at a rate of three percent per annum. Subject to the approval of the TSX Venture Exchange, the Board of Directors and Mr. Marvis agreed that if Mr. Marvis still held the position of an executive of the Company as at January 31, 2021, the obligations outstanding under the Note as at such date would be forgiven. As Mr. Marvis remained Chief Executive Officer of the Company on January 31, 2021, the Note has been cancelled, subject to the approval of the TSX Venture Exchange. In addition the company has filed for the issuance of 4.4M options (exercisable at $.30 per share) and 8.8M RSU grants to certain executives and board members under the vesting terms of the respective plans. 

About QYOU Media

QYOU Media operates in India and the United States producing and distributing content created by social media stars and digital content creators. In India, we curate, produce and distribute premium content including television networks and VOD for cable and satellite television, OTT and mobile platforms. In the United States, we manage influencer marketing campaigns for major film studios and brands. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than 700 million consumers around the world.  Experience our work at www.qyoumedia.com and www.theq.tv

Forward-Looking Statements

This press release may contain "forward-looking information" and "forward-looking statements"within the meaning of applicable securities laws, including, without limitation, the Company's future plans and anticipated results, the strengthening of the Company's position and revenue in India, growth in the influencer marketing segments of the Company's business, and new strategic partnerships. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Additional risks and uncertainties regarding QYOU Media are described in its publicly available disclosure documents, filed by QYOU Media on SEDAR at www.sedar.com except as updated herein. The forward-looking statements contained in this news release represent QYOU Media's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, QYOU Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE QYOU Media Inc.

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http://theqyou.com/

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QYOU Media Inc.